RELATING TO TAXATION; EXTENDING THE EFFECTIVE DATE OF CERTAIN PROVISIONS OF THE INVESTMENT CREDIT ACT RELATING TO THE VALUE OF QUALIFIED EQUIPMENT AND EMPLOYMENT REQUIREMENTS.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

Section 1. Laws 1997, Chapter 62, Section 3 is amended to read:

"Section 3. Laws 1990, Chapter 3, Section 10, as amended by Laws 1992, Chapter 17, Section 1 and also by Laws 1992, Chapter 104, Section 1, is amended to read:

"Section 10. EFFECTIVE DATE.--

A. The effective date of the provisions of Sections 1, 2, 4, 5, 7 and 9 of Laws 1990, Chapter 3 is January 1, 1991.

B. The effective date of the provisions of Sections 6 and 8 of Laws 1990, Chapter 3 is January 1, 2004.""

HB 262

Page 1